European financial transaction tax and its possible implications

Abstract

The article is concerned with the financial transaction tax. Eleven member states of the European Union are supposed to introduce this tax in 2014 in the regime of enhanced cooperation.

Despite the fact that the Czech Republic does not participate in this enhanced cooperation, the tax might have an influence on the Czech financial market as well. The article is therefore attempting to introduce the tax, point out its advantages and disadvantages and consider its possible consequences.

Keywords

• tax
• financial transactions
• financial transaction tax
• European Union
• enhanced cooperation